mazerine Partners: what changed
What changed
mazerine Partners
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€278,833
2025 · €183,410+€95,422
Equity
€2.6m
2025 · €2.8m-€228,050
Cash
€117,899
2025 · €113,101+€4,797
Balance sheet total
€2.9m
2025 · €3.1m-€233,097
Largest movements
Assets
- Current investments -€428,698
down €428,698 (-30.4%), from €1.4m to €979,813
- Financial fixed assets +€138,047
up €138,047 (+15.2%), from €907,464 to €1.0m
- Receivables within one year +€78,260
up €78,260 (+422%), from €18,552 to €96,812
of which Trade receivables: +€78,260
Equity and liabilities
- Reserves -€228,082
down €228,082 (-8.1%), from €2.8m to €2.6m
of which Distributable reserves: -€228,082
- Tax, wage and social debts +€34,404
up €34,404 (+147%), from €23,434 to €57,839
of which Taxes: +€27,196
- Debts after one year -€34,073
down €34,073 (-19.4%), from €175,810 to €141,737
Income statement
- Gross operating margin +€153,518
up €153,518 (+898%), from €17,095 to €170,613
- Financial income -€67,638
down €67,638 (-26.1%), from €259,188 to €191,550
of which Financial income: -€69,411
- Financial charges -€37,858
down €37,858, from €23,497 to -€14,361
- Taxes +€34,216
up €34,216 (+148%), from €23,060 to €57,276
- Other operating charges -€4,300
down €4,300 (-51.0%), from €8,425 to €4,125
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
€183,410
Gross operating margin
+€153,518
Depreciation
+€1,601
Other operating charges
+€4,300
Financial income
-€67,638
Financial charges
+€37,858
Taxes
-€34,216
Result 2026
€278,833
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€263,989
Investment
+€281,236
Financing
-€540,428
Cash 2025
€113,101
From operations (derived)
+€263,989
Net result for the year
+€278,833
Depreciation
+€36,290
Receivables within one year
-€78,260
Deferred charges and accrued income
-€1,371
Trade debts
-€8,349
Tax, wage and social debts
+€34,404
Other debts
+€2,443
Investment (derived)
+€281,236
Investment in fixed assets (net)
-€147,462
Current investments
+€428,698
Financing
-€540,428
Debts after one year
-€34,073
Current portion of long-term debt
+€528
Contributions, distributions and other
-€506,882
Cash 2026
€117,899
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,093,154 | €2,860,057 | -€233,097 | -7.5% |
| Fixed assets | 21/28 | €1,549,386 | €1,660,558 | +€111,172 | +7.2% |
| Tangible fixed assets | 22/27 | €641,922 | €615,047 | -€26,875 | -4.2% |
| Plant, machinery and equipment | 23 | €1,705 | €6,249 | +€4,544 | +266% |
| Furniture and vehicles | 24 | €81,929 | €61,630 | -€20,299 | -24.8% |
| Other tangible fixed assets | 26 | €558,288 | €547,168 | -€11,120 | -2.0% |
| Financial fixed assets | 28 | €907,464 | €1,045,511 | +€138,047 | +15.2% |
| Current assets | 29/58 | €1,543,768 | €1,199,499 | -€344,269 | -22.3% |
| Amounts receivable within one year | 40/41 | €18,552 | €96,812 | +€78,260 | +422% |
| Trade receivables | 40 | €18,552 | €96,812 | +€78,260 | +422% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €1,408,511 | €979,813 | -€428,698 | -30.4% |
| Cash at bank and in hand | 54/58 | €113,101 | €117,899 | +€4,797 | +4.2% |
| Deferred charges and accrued income | 490/1 | €3,604 | €4,975 | +€1,371 | +38.0% |
| Total equity and liabilities | 10/49 | €3,093,154 | €2,860,057 | -€233,097 | -7.5% |
| Equity | 10/15 | €2,836,727 | €2,608,678 | -€228,050 | -8.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €2,828,615 | €2,600,533 | -€228,082 | -8.1% |
| Non-distributable reserves | 130/1 | €10,725 | €10,725 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,725 | €10,725 | = | 0.0% |
| Distributable reserves | 133 | €2,817,890 | €2,589,808 | -€228,082 | -8.1% |
| Profit (loss) carried forward | 14 | €1,912 | €1,945 | +€33 | +1.7% |
| Amounts payable | 17/49 | €256,427 | €251,379 | -€5,048 | -2.0% |
| Amounts payable after more than one year | 17 | €175,810 | €141,737 | -€34,073 | -19.4% |
| Financial debts | 170/4 | €175,810 | €141,737 | -€34,073 | -19.4% |
| Amounts payable within one year | 42/48 | €80,617 | €109,642 | +€29,026 | +36.0% |
| Current portion of amounts payable after more than one year | 42 | €33,546 | €34,073 | +€528 | +1.6% |
| Trade debts | 44 | €9,434 | €1,085 | -€8,349 | -88.5% |
| Suppliers | 440/4 | €9,434 | €1,085 | -€8,349 | -88.5% |
| Taxes, remuneration and social security | 45 | €23,434 | €57,839 | +€34,404 | +147% |
| Taxes | 450/3 | €23,434 | €50,631 | +€27,196 | +116% |
| Remuneration and social security | 454/9 | - | €7,208 | +€7,208 | |
| Other amounts payable | 47/48 | €14,203 | €16,646 | +€2,443 | +17.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,890 | €36,290 | -€1,601 | -4.2% |
| Other operating charges | 640/8 | €8,425 | €4,125 | -€4,300 | -51.0% |
| Gross operating margin | 9900 | €17,095 | €170,613 | +€153,518 | +898% |
| Operating profit (loss) | 9901 | -€29,220 | €130,198 | +€159,419 | |
| Financial income | 75/76B | €259,188 | €191,550 | -€67,638 | -26.1% |
| Recurring financial income | 75 | €259,188 | €189,777 | -€69,411 | -26.8% |
| Non-recurring financial income | 76B | - | €1,773 | +€1,773 | |
| Financial charges | 65/66B | €23,497 | -€14,361 | -€37,858 | |
| Recurring financial charges | 65 | €23,497 | -€14,361 | -€37,858 | |
| Profit (loss) for the period before taxes | 9903 | €206,470 | €336,109 | +€129,639 | +62.8% |
| Income taxes | 67/77 | €23,060 | €57,276 | +€34,216 | +148% |
| Profit (loss) for the period | 9904 | €183,410 | €278,833 | +€95,422 | +52.0% |
| Profit (loss) for the period to be appropriated | 9905 | €183,410 | €278,833 | +€95,422 | +52.0% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.